Renovated Multifamily
For Sale
$445,000
24 Bond Street, Hartford, CT 06114
Multi-Family For Sale, Units on different Floors,Units are Side-by-Side, Hartford, CT
Property Size2,440 SF
Lot Size0.11 Acres
Price / SF$182.38
Days on Market58
Property Features for 24 Bond Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
NX-2
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 1, Bathroom 2, Basement, Bedroom 1, Bedroom 5, Bathroom 3, Bathroom 4, Bedroom 2, Bedroom 4
Parking
4
Exterior features
Sidewalk,Garden Area
Basement
Unfinished, Full
Lot features
Level Lot
Elementary school
Per Board of Ed
High school
Bulkeley
Directions
Off Wethersfield Ave
Subdivision
South End
Standard status
Active
Size
2,440 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4472
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Water source
Public
Building Details
Year built
1920
Architectural style
Other
Listing Agency:
Golden Rule Realty
(860) 523-1515
Listed By:
Tony Marques
(860) 883-7637
Added: Jul 11
Changed: Sep 6
Last Checked: Sep 6 at 7:06AM
MLS# 24189844
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,440-square-foot multifamily property contains three apartments. The second-floor residence offers 3 bedrooms and 2 baths, while two smaller apartments are positioned on the first floor. The layout supports an owner-occupant configuration with additional residential units on site.
Renovation work includes new plumbing, electrical systems, windows, insulation, sheetrock walls and ceilings, bathrooms, kitchens, flooring, heating systems, and roofing. The property was built in 1920 and has hot-water heating, public water, and public sewer service. Exterior features include sidewalks and a garden area. The property is located at 24 Bond Street in Hartford, Connecticut, on a 0.11-acre lot and is zoned NX-2.
Renovation work includes new plumbing, electrical systems, windows, insulation, sheetrock walls and ceilings, bathrooms, kitchens, flooring, heating systems, and roofing. The property was built in 1920 and has hot-water heating, public water, and public sewer service. Exterior features include sidewalks and a garden area. The property is located at 24 Bond Street in Hartford, Connecticut, on a 0.11-acre lot and is zoned NX-2.
Key Highlights
- Three‑unit multifamily property with a 3‑bedroom, 2‑bath second‑floor residence
- Two smaller apartments located on the first floor
- 2,440 square feet on a 0.11‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$35,828
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.05%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$716,560
$716.6K
Cap Rate 7%
$511,829
$511.8K
Cap Rate 9%
$398,089
$398.1K
Market Conditions
NOI Build-Up for 2,440 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$54.2K $22.20/SF
− Vacancy
−$3.0K −$1.22/SF
EGI
$51.2K $20.98/SF
− OpEx
−$15.4K −$6.29/SF
NOI
$35.8K $14.68/SF
Area
Hartford, CT
Vacancy
5.51%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$716,560
Cap Rate 7%
$511,829
Cap Rate 9%
$398,089
Alternative Uses
Best Use
Multifamily LT 5
$511.8K
$447.9K – $597.1K
NOI $35,828 @ 7.0% cap · market cap 8.05%
Second Best
Apartment 5plus
$470.3K
$411.5K – $548.7K
NOI $32,919 @ 7.0% cap · market cap 7.40%
Theoretical Best
Office A
$727.3K
$636.4K – $848.5K
NOI $50,911 @ 7.0% cap · market cap 11.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,711
Businesses Nearby
Explore this area
Business Placement
Demographics for 06114, CT
26,257
Population
11,206
Households
2.3
Avg Household Size
34
Median Age
15%
College-Educated
71%
High-School Grad
4.0 sq mi
ZIP Area
6,564
Density / Sq Mi
$47,905
Median Household Income
$31,996
Median Earnings
$1,296
Median Rent
$228,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Three apartments include a larger owner-oriented residence and two smaller first-floor units in Hartford.
Where is this multifamily property located?
The property is located at 24 Bond Street Hartford, CT.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: Three‑unit multifamily property with a 3‑bedroom, 2‑bath second‑floor residence; Two smaller apartments located on the first floor; 2,440 square feet on a 0.11‑acre lot
